Public Provident Fund | Do you want to make a profit without risk? However post office schemes are suitable for you. There are many rewards to investing in these things. Tax deduction is also available.
The Post Office offers a wide variety of schemes. There is no risk in investing in these small savings schemes. As well as owning attractive returns. The benefits available to you also depend on the scheme you choose.
The Public Provident Fund PPF PPF Scheme is one of the schemes offered by the Post Office . If you join this scheme, you will get income, protection and tax exemption benefits. PPF Maturity period is 15 years. Tenure can be increased at the rate of five years if required.
Up to Rs 1.5 lakh can be invested in a PPF account in a financial year. The PPF scheme currently carries an interest rate of 7.1 per cent. The interest rate is subject to change every three months. There is no tax on money invested, money taken, interest earned.
For example you have joined the PPF scheme. With a saving of Rs 150 per day i.e. Rs 4500 per month was expected to be put in PPF. If you invest in PPF for 20 years, you will get around Rs 24 lakh at maturity.
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